Eternal (formerly known as Zomato) reported a net profit of Rs 39 crore for the fourth quarter of FY25, down 77.7 per cent year-on-year from Rs 175 crore in the same period a year ago.
On a sequential basis, profit was also down 33.8 per cent from Rs 59 crore in the preceding quarter (Q3FY25).
The company’s revenue from operations rose 63.7 per cent year-on-year (Y-o-Y) to Rs 5,833 crore in Q4, up from Rs 3,562 crore a year ago.
It had reported revenue of Rs 5,405 crore in the previous quarter.
On the profitability front, consolidated adjusted earnings before interest, tax, depreciation, and amortisation (EBITDA) declined 15 per cent Y-o-Y to Rs 165 crore in Q4FY25, largely on account of enhanced investments in expanding the company’s quick commerce store network.
For the full year, the company reported consolidated operational revenue of Rs 20,243 crore, up 67 per cent from Rs 12,114 crore in FY24.
PAT for the full year came in at Rs 527 crore, up 50 per cent from last year’s Rs 351 crore.
Zomato: Food Delivery
Adjusted revenue for the company’s food delivery segment grew 17 per cent Y-o-Y to Rs 2,413 crore, up from Rs 2,050 crore in the corresponding quarter of the previous financial year.
On a sequential basis, food delivery revenue was down 0.2 per cent.
Food delivery, which continues to be the firm’s largest revenue contributor, has been experiencing some sluggishness.
The company said this was due to a weak demand environment, a shortage of delivery partners driven by high demand in the quick commerce segment, and competition from packaged food deliveries by quick commerce players.
The gross order value (GOV) decreased slightly from Rs 9,913 crore in Q3FY25 to Rs 9,778 crore in Q4FY25.
However, GOV rose from Rs 8,439 crore in Q4FY24 on a Y-o-Y basis.
The average monthly transacting customers increased slightly to 20.9 million, compared to 20.5 million in the previous quarter.
Talking about competition in food delivery, Deepinder Goyal, founder and chief executive officer (CEO) of Eternal, said: “Competition in food delivery has always been high, and the intensity of it hasn’t changed in the last quarter.
“Our market share has been stable for the last few months and we are hoping we can drive some share gain going forward.”
Eternal also said it delisted nearly 19,000 restaurants in the fourth quarter.
These were restaurants that either did not pass hygiene standards, were mimicking established brands and misleading customers, or were operating multiple identical menu listings.
The company mentioned shutting down its in-app instant food delivery services Zomato Quick and Zomato Everyday, adding that it does not see a path to profitability in these initiatives.
“The current restaurant density and kitchen infrastructure is not set up for delivering orders in 10 minutes, which leads to inconsistent customer experience.
“As a result, we did not see any incrementality in demand while we ran Quick as an experiment for a few months,” Goyal said.
For Everyday, Goyal said the need for homely meals is a limited use case, largely for office locations in metros.
“We did not see enough ROI by keeping it running at a small scale,” he added.
Blinkit
The quick commerce arm of Eternal reported Q4FY25 revenue of Rs 1,709 crore, marking a 122.2 per cent increase from Rs 769 crore in Q4FY24.
The platform’s GOV for the quarter rose to Rs 9,421 crore from Rs 7,798 crore a quarter ago.
The average order value (AOV) came in at Rs 665, down from Rs 707 in the previous quarter.
The platform’s average monthly transacting customers also increased to 13.7 million in Q4FY25, up from 10.6 million in Q3FY25.
Blinkit opened 294 net new stores in Q4FY25 — its highest-ever net store addition in a single quarter.
According to the company, Blinkit is on track to reach 2,000 stores by December 2025. It currently has 1,301 stores.
Blinkit also added one million square feet of new warehousing space for store expansion.
On adjusted EBITDA losses increasing quarter-on-quarter from Rs 103 crore to Rs 178 crore, Albinder Dhindsa, founder and CEO of Blinkit, said: “As mentioned in our last shareholders’ letter, the increase in losses was expected and in line with our plan to pull forward expansion of our store network.”
Going Out
For Eternal’s going-out business, revenue rose 146.2 per cent to Rs 229 crore in Q4FY25, compared to Rs 93 crore in the year-ago period.
Meanwhile, GOV jumped to Rs 2,184 crore in Q4FY25 from Rs 1,069 crore in Q4FY24.
The company said the District app is scaling well, and one-third of going-out GOV now comes from the app.
Going forward, the company plans to focus on improving customer experience, expanding product categories, and enhancing its footprint.
Hyperpure
Hyperpure, Eternal’s business-to-business supplies vertical, saw revenue rise 93.4 per cent Y-o-Y in Q4FY25.
The vertical’s revenue stood at Rs 1,840 crore in Q4FY25, up from Rs 951 crore in the same quarter of the previous financial year.
